PNC Completes Conversion of Mercantile
231 branches and 500,000 consumer accounts now PNC
Sep 18, 2007
PITTSBURGH, Sept. 18 /PRNewswire-FirstCall/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced that it has completed the conversion of all Mercantile bank branches and clients to PNC.
"The integration of Mercantile into PNC extends our valuable Mid-Atlantic banking franchise, adding to our strength and expanding our ability to deliver products and services to this rapidly growing and affluent region," said James E. Rohr, PNC chairman and chief executive officer.
Between close of business on September 14 and reopening of branches on September 17, PNC converted all 231 Mercantile affiliate branches and approximately 500,000 consumer accounts to PNC Bank. PNC now has one of the largest bank branch networks in Maryland, the second highest share of deposits in the state, and officially enters the Baltimore market. The conversion also significantly expands PNC's presence in Washington, D.C., Virginia, and Delaware.
The PNC Financial Services Group, Inc. (http://www.pnc.com/) is one of the nation's largest diversified financial services organizations providing retail and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.
SOURCE: The PNC Financial Services Group, Inc.
CONTACT: Media, Fred Solomon, +1-412-762-4550,
firstname.lastname@example.org, or Investors, William H. Callihan,
+1-412-762-8257, email@example.com, both of The PNC Financial
Services Group, Inc.
Web site: http://www.pnc.com/
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